Monday, January 16, 2012

Nifty Week @ 4866

Dallal St again started looking at negative news for possible sharp downfall. As a crowd we all behave in same way. We all will try to follow some resistance and support level. Some try to beat market by keeping stop loss slightly less than those level or slightly higher than so called important level. Still we do, not because we love to do so,  but because it gives all of us a direction in darkness.
Important observation for tomorrow
  1.  Nifty may open on soft note amidth bad news from Europe
  2.  Weekly chart is still bullish for short term
  3. 4760 to 4765 is very strong support for this week
  4. On upper side Bulls need to face stiff resistance at 4935 and 
  5. Minor resistance at 4900 and 4917
Gann Level Chart for Quick reference

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